According to law 4256/2014 include:
Liability for Personal Injuries and/or Death of occupants and third parties by accident and cumulatively for the entire duration of insurance up to € 500,000
Injuries to third parties per passenger up to € 50,000
Liability for Material Damages of passengers and third parties by accident and cumulatively for the entire duration of insurance up to € 150,000
Marine pollution – is covered solely the cost of decontaminating the marine environment per incident and cumulatively for the entire insurance period up to € 150,000.
In addition to the mandatory Third Party Liability insurance, you have the option to protect your own property by covering the same damage to the boat – HULL:
The basic clause used for yacht insurance is the Institute Yacht Clauses 1.1.85 Cl 328 and covers damages arising from:
▪ Dangers of the sea, rivers, lakes or other navigable waters
▪ Fire / Explosions
▪ Estuary
▪ Piracy
▪ Collision with port or wharf equipment or facilities by any land vehicles, aircraft or similar objects or objects falling from them
▪ Earthquake, volcanic eruption or lightning
▪ Accidents during the loading, unloading or handling of supplies, synergists, machinery equipment or fuel
▪ Malicious acts
▪ Theft of the entire boat, boats or outboard motors
▪ Damage to the boat (excluding engine and electrical equipment) from hidden defects in the boat or engine, broken shafts, burst boilers and negligence of any person (except repairers) are also covered
▪ Costs of inspecting the vessel's reefs after grounding
Additional Boat Covers:
Outboard motor falling overboard
Cover for shaft and propeller damage
Personal effects
Mechanical damage
Risks of Land Transport
Coverage when renting or chartering the vessel
Coverage of War and Political Strikes